Our strategy
The IPA’s purpose is to promote professionalism and uphold ethical standards within the insolvency profession. Through regulation, education, collaboration, and advocacy, we strive to create a community of skilled and diverse practitioners dedicated to achieving fair and effective resolutions for individuals and organisations facing financial distress.
The IPA’s mission is to protect the interests of the public and all stakeholders involved in the insolvency process. We aim to ensure fair, transparent, proportionate, timely, and robust regulation via rigorous oversight, collaboration and continuous improvement.
The IPA’s vision is to be recognised as the leading and foremost authority regulating the insolvency profession across the UK, setting and upholding the highest standards of ethical conduct, competence and accountability.
As a well-respected UK regulator of Insolvency Practitioners (IPs), Our medium-term goal is to build upon this position, improving standards in the insolvency profession, and provide assurance to the public and others.
Key IPA priorities
Delivering our priorities
- Inspect IPs across the UK to ensure they apply all professional standards in their work.
- Inspect providers of Individual Voluntary Arrangements (IVAs) through the Volume Provider Regulation (VPR) Scheme to ensure debtors and creditors are dealt with fairly and consistently.
- Deal with complaints and concerns promptly and consistently to achieve fair outcomes for IPs and complainants.
- Support the IPA’s Regulation and Conduct Committee (R&CC) and Disciplinary and Appeals Committee (D&AC) so they reach reasonable decisions on IP compliance in good time.
- Work with other Recognised Professional Bodies (RPBs) and the Insolvency Service on issues of shared concern, including standard setting and the implementation of agreed standards.
- Communicate to IPs and others the standards they should adhere to and the consequences of non-compliance, in order to provide assurance to the public, the government and others.
- Deliver in-person training through conferences and events across the UK.
- Run regular online events and webinars to support IPs’ Continuing Professional Development (CPD).
- Provide the CPI and CPPI exams for new entrants to the insolvency profession.
- Work with RPBs and the Insolvency Service to ensure that the Joint Insolvency Exam (JIE) operates smoothly and to agreed standards to benefit the profession.
- Communicate relevant insolvency developments clearly and effectively to IPs.
- Support IPA members so that they have efficient access to information about training, events and can renew their membership easily.
- Manage finances and investments effectively, reporting information clearly to senior managers and the Board’s Finance and Risk Committee.
- Manage offices and other assets and contracts effectively so that IPA is supported well in all operational activities.
- Ensure all technical equipment, including laptops and software, are maintained appropriately to support the delivery of objectives.
- Maintain and implement policies on propriety and conflicts of interest to ensure high standards of financial and asset management.
- Be good managers to staff, encouraging high standards, good teamwork and the delivery of corporate objectives.
- Ensure high standards of good governance at Board, Committee and senior management levels.
- Promote diversity and inclusion among staff and stakeholders, treating everyone with respect.
- Implement HR policies and procedures effectively, keeping them up to date in line with legislative and other developments.
- Invest in and benefit from ongoing training and development among staff and Board members.
- Recruit high-calibre individuals into the IPA through open, transparent processes.
- Hear and act on staff feedback, including through annual surveys and the staff forum.
Additionally, we intend to prepare for and respond to any legislative changes impacting on insolvency or its regulation; and work with partners including the Insolvency Service and trade bodies to promote the value of insolvency as a profession to potential entrants, particularly those from a diverse background.